Shares of conglomerate ITC Ltd fell nearly 10 per cent on Thursday, January 1, 2026 to hit a 52-week low of Rs 362.70 on the BSE. The counter started the trading session in the red at Rs 402.25 against the previous close of Rs 403 on the BSE. Amid a spurt in trading volume by 1.40 times, the scrip dipped further and touched a 52-week low of Rs 362.70. Last seen, the scrip was trading at Rs 368.25 with a dip of 8.62 per cent and the market cap of the company stood at Rs 4,64,260.60 crore. On the National Stock Exchange (NSE), the stop opened at Rs 402.70 and later touched the low of Rs 364.50. The stock has a 52-week high of Rs 471.30, hit on February 1, 2025, and a 52-week low of Rs 362.70.
Technically, the scrip is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
With is ITC share falling today?
The stock tumbled to its 52-week low after the government announced the date from which additional excise duty on tobacco products and a health cess on pan masala will be levied. The government stated that the date has been set for February 1 for this purpose.
With the new tax, cigarettes will become costlier for an estimated 100 million smokers in India.
Godfrey Phillips India share price
Not just ITC but shares of Godfrey Phillips India too tumbled nearly 20 per cent to touch an intraday low of Rs 2230.15 on the BSE.
Tobacco products to attract GST of 40%
The new levies on tobacco and pan masala will be over and above the GST rate, and will replace the compensation cess, which is currently being levied on such 'sin goods'.
From February 1, pan masala, cigarettes, tobacco and similar products will attract a GST rate of 40 per cent, while ‘biris’ will attract 18 per cent Goods and Services Tax (GST), according to a government notification.
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